Finnish Health Technology Company Secures investment for Medical Robots

According to a recent announcement, Highlight Health Investment Limited, a Chinese investment company, has invested 4.5 million euros into Finnish health technology company NewIcon.

Highlight Health Investment Limited is an investment fund controlled by Highlight Capital, an investment company specializing in health technology. The connection to Finland was formed when Shanghai General Healthy Information Technology, also funded by Highlight, offered to collaborate with NewIcon.

“They say NewIcon is like a gem hidden here in the north. For an SME like us, they're the best possible partner with whom we can start seeking business with the thousands of hospitals in China,” Ossi Parviainen, CEO, NewIcon.

In addition to the investment by Highlight Capital, the negotiations with Shanghai General have resulted in starting a joint venture, of which NewIcon owns 25 percent. The joint venture will begin the marketing and sales of NewIcon's automation devices in Mainland China, Taiwan, and Hong Kong.

“We have been laying the foundations for this partnership carefully. For us, it's important that our partner has a functional sales network and that they are fully familiar with their home market,” Parviainen said.

The joint venture operating in China is committed to purchasing dozens of robots for manufacturing ready-to-use cytotoxics medications from NewIcon in the next five years. For NewIcon, this will mean a turnover of nearly 20 million euros.

With the Chinese investment, NewIcon said it will develop more innovative automation solutions for the international market in order to help make hospital medical services more efficient and improve patient safety.

“We don't plan on putting all our eggs in one basket in the future, either; instead, we will continue to also sell our products in the other markets we have chosen. In recent years, we have invested heavily in the resources, product development, and delivery network of our company, meaning we are ready for a rapid increase in demand,” Parviainen says.